Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 2883, S.D. 1, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to fill a gap in the insurance law that will be created upon the expiration of federal law relating to limited licensing, by authorizing the Insurance Commissioner (Commissioner) to issue rental car companies a limited license to sell insurance only in connection with and incidental to the rental of vehicles.

The Hertz Corporation and Avis Rent a Car Systems, Inc. submitted testimony in support of this bill. Catrala Hawaii, the Department of Commerce and Consumer Affairs (DCCA), and the Office of Consumer Protection of DCCA supported the intent of this bill and suggested amendments.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2883, S.D. 1, H.D. 1, and recommends that it pass Third Reading.